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US-China Trade Tensions Weigh on Australian Dollar
Published: 29 May at 4 PM
The Pound (GBP) struggled today after the Bank of England’s (BoE) policymaker, Michael Saunders, said that the ‘searing experience’ of the coronavirus pandemic would leave its mark on the British economy long after the lockdown was lifted.
Mr Saunders commented:
‘If unchecked, there are risks of a vicious circle,...
Euro Struggles as ECB Says Eurozone Economy Could Shrink by 12% This Year
Published: 28 May at 5 PM
The Pound (GBP) performed well against the Euro (EUR) and US Dollar (USD) after Downing Street announced its defence of Prime Minister Boris Johnson’s chief aide, Dominic Cummings, who broke lockdown regulations in April.
As a result, Sterling reacted positively to an effective settling of the political controversy....
Euro (EUR) Steadies After Four Days of Gains
Published: 21 May at 5 PM
Pound Sterling (GBP) Slumps on Speculation of BoE Rate Cuts
Sterling (GBP) suffered losses on Thursday as a combination of disappointing economic data and the risk of the Bank of England (BoE) sending interest rates into negative territory.
PMI data revealed the UK’s private sector was able to flatten out slightly in May after...
Italy’s Debt Crisis Weighs on Euro
Published: 18 May at 5 PM
The Pound (GBP) began to push higher today after UK Health Secretary Matt Hancock revealed that everyone over five – with Covid-19 symptoms was now eligible for a coronavirus test. Mr Hancock also added that 21,000 people had been hired to carry out contract tracing tests.
As a result, Sterling benefited from what appears to...
Sterling (GBP) Falls as UK Refuses to Compromise on Brexit
Published: 15 May at 1 PM
Pound (GBP) Slides as PM Refuses to Compromise With EU Over Brexit
Sterling (GBP) suffered losses on Friday as this week’s disappointing data due to the coronavirus crisis and Brexit fears weighed on the currency. Sentiment was left dampened after Boris Johnson’s government reiterated its refusal to extend the current Brexit transition...
US Dollar (USD) Rises on Safe-Haven Demand as Global Trade Tensions Flare-Up
Published: 14 May at 5 PM
The Pound (GBP) remained subdued today as the UK’s economic outlook continues to dim as the coronavirus pandemic continues to hold back key sectors of the British economy.
Today also saw news from the ONS that nearly half of UK firms could run out of money within the next six months. As a result, this sparked off further...
Euro (EUR) Suffers as Eurozone Factories Suffer ‘Breath-Taking’ Collapse
Published: 5 May at 5 PM
The Pound (GBP) struggled today after the latest UK Services PMI for April fell to record lows of 13.4. As a result, this left many Sterling traders for the health of the British economy going forward.
Tim Moore, the Economics Director at IHS Markit, commented:
‘April's PMI data highlights that the downturn in the UK...
US Dollar (USD) Rises on Risk-Off Market Mood
Published: 16 Apr at 5 PM
The Pound (GBP) fell against many of its peers today after Downing Street said that the coronavirus had only strengthened the UK’s reason to be free of the European Union’s regulations after 2020.
Consequently, Sterling fell due to the two-pronged attack on the British economy from the coronavirus and uncertainty over...
Euro (EUR) Rises as Eurozone Nations Cautious Reopen
Published: 15 Apr at 5 PM
The Pound (GBP) put in a mixed performance today, with GBP rising against many of the risk-correlated currencies on hopes that the Government could conceded over pressures from Labour leader Keir Starmer to release plans to ease the lockdown, while it struggle against the Euro and the US Dollar.
Sterling remains under...
Pound (GBP) Sinks as Boris Johnson Remains in Intensive Care
Published: 7 Apr at 5 PM
The Pound (GBP) struggled today following Prime Minister Boris Johnson’s admittance to hospital last night, which soon escalated to him being moved to intensive care.
Consequently, Sterling investors became jittery as the PM’s health remained in balance, despite Downing Street’s assurance that his condition remains...